Egypt Gas has announced its approval of a new contract worth $9.4 million in collaboration with the Technical Gas Service Company (TGS) in Jordan.
As part of the agreement, the Egyptian firm will enhance the efficiency of 10 measuring stations in Jordan. The project is set to be completed within 52 weeks, following the board’s decision during their meeting on December 29, 2024, as stated in a stock exchange filing.
In related news, Egypt Gas reported strong financial performance for the first nine months of 2024. The company’s net profits rose to EGP 180.63 million, up from EGP 138.62 million in the same period of 2023. Additionally, revenues increased significantly, reaching EGP 4.92 billion compared to EGP 3.61 billion in the previous year.